Bitcoin Boosters Tout ‘Programmability’ as Next Rally Catalyst

After the long-anticipated launch of US Bitcoin exchange-traded funds in January, and the once-every-four-years software update called the “halving” last month, the big question on a lot of crypto investors’ minds has been, what will power the largest cryptocurrency’s next rally?

A slew of developers think they have the answer: adding programmability to the Bitcoin blockchain. Today, Bitcoin is viewed by many as digital gold — a token you hold for appreciation, but can’t do much else with. While you can use its biggest rival, Ether, to swap coins and earn yield on the Ethereum network, the Bitcoin blockchain lacks ...